Moody Aldrich Partners LLC acquired a new position in Target Co. (NYSE:TGT) during the third quarter, Holdings Channel reports. The firm acquired 2,533 shares of the retailer’s stock, valued at approximately $223,000.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Target by 5.3% in the 2nd quarter. BlackRock Inc. now owns 42,770,603 shares of the retailer’s stock worth $3,255,697,000 after buying an additional 2,161,982 shares in the last quarter. LSV Asset Management lifted its holdings in Target by 1.2% in the 2nd quarter. LSV Asset Management now owns 7,496,328 shares of the retailer’s stock worth $570,620,000 after buying an additional 90,489 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Target by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,266,772 shares of the retailer’s stock valued at $324,768,000 after purchasing an additional 106,616 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Target by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,908,902 shares of the retailer’s stock valued at $297,546,000 after purchasing an additional 34,470 shares in the last quarter. Finally, Swedbank acquired a new stake in shares of Target in the 3rd quarter valued at about $198,324,000. Hedge funds and other institutional investors own 83.90% of the company’s stock.
In other Target news, insider Stephanie A. Lundquist sold 2,100 shares of the company’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $86.00, for a total value of $180,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Janna A. Potts sold 15,172 shares of the company’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $88.00, for a total transaction of $1,335,136.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 22nd. The retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.07. The firm had revenue of $17.78 billion for the quarter, compared to analyst estimates of $17.33 billion. Target had a net margin of 4.19% and a return on equity of 24.29%. Target’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Sell-side analysts predict that Target Co. will post 5.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.64 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.56 annualized dividend and a yield of 3.03%. Target’s dividend payout ratio (DPR) is 54.35%.
A number of equities research analysts have recently issued reports on TGT shares. Robert W. Baird upped their target price on shares of Target from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, August 23rd. Wolfe Research lowered shares of Target from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 23rd. Guggenheim restated a “hold” rating on shares of Target in a research note on Wednesday, August 22nd. Bank of America set a $90.00 target price on shares of Target and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Finally, Citigroup upped their target price on shares of Target from $76.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, August 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $87.68.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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